Alexandra bought a snow blower from Rajeev. The price was $5000. As payment, she gave him a document entitled "Promissory Note" that contained her unconditional promise to pay $5000 to him "when the snow next falls." Even though that document does not satisfy the requirements of the Bills of Exchange Act, Rajeev is still entitled to receive $5000 from Alexandra.

Question

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The promissory note represents Alexandra's commitment to pay Rajeev $5000, and despite not meeting the formal requirements of the Bills of Exchange Act, it still constitutes a valid agreement between the parties.

Alexandra Bought a Snow Blower from Rajeev